I appreciate Zero Hedge quoting my “old work” trying to explain the mysterious “registered” and “eligible” categories of COMEX warehouse bullion holdings. The thank you (and yes, it is sardonic) doesn’t come because I agree with the context in which … Read More →

It has been a while since we updated our basis analysis of gold and silver and this is primarily due to the fact that the basis wasn’t doing much of anything. It still isn’t doing all that much but there … Read More →

Today gold closed under $1,160 (August 2010 COMEX contract) and appears to have decisively broken the intermediate uptrend established after the February 5 low at $1,050. If the recent… Login or Subscribe to Read More →

Gold and silver are consolidating near their highs and that could be setting up an explosive scenario especially with physical and speculative demand remaining solid… Login or Subscribe to Read More →

Stocks plunged again today after a disappointing jobs report and more fear and loathing out of Europe. In stereotypical fashion, the Hungarians are shooting themselves… Login or Subscribe to Read More →

It was quite an ugly day in the markets on Thursday with longs the world over finding rotten eggs and dirty rocks in their shoes… Login or Subscribe to Read More →

The Gold ETF Basis, representing the difference between the calculated net asset value (NAV) of the big gold ETF GLD and the spot gold price… Login or Subscribe to Read More →

An incredible thing happened to start this incredible week. Some gold investors happily paid the equivalent of over $1,500 per ounce of gold. Granted this was on a day that gold was posing in preparation for breaking its previous all-time … Read More →

Gold and silver suffered nasty drops this morning as the markets reflected continuing uncertainty around Greek debt. Our basis indicators were already signaling some weakness… Login or Subscribe to Read More →

We wanted to provide an update of where the gold and silver basis currently stand given the recent flight to safety in Europe a&hellip… Login or Subscribe to Read More →